BIOLASE, Inc. (NASDAQ:BIOL) Receives Average Rating of “Buy” from Analysts

BIOLASE, Inc. (NASDAQ:BIOLGet Rating) has received an average recommendation of “Buy” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $56.25.

BIOL has been the subject of several recent analyst reports. StockNews.com cut shares of BIOLASE from a “hold” rating to a “sell” rating in a research note on Monday. Maxim Group initiated coverage on shares of BIOLASE in a research note on Friday, March 18th. They issued a “buy” rating and a $37.50 price objective for the company. Lake Street Capital initiated coverage on shares of BIOLASE in a research note on Friday. They issued a “buy” rating for the company. Finally, Colliers Securities reiterated a “buy” rating on shares of BIOLASE in a research note on Tuesday, March 22nd.

Shares of BIOL stock traded up $0.17 during mid-day trading on Friday, hitting $4.01. The stock had a trading volume of 8 shares, compared to its average volume of 113,937. BIOLASE has a fifty-two week low of $3.30 and a fifty-two week high of $23.49. The firm has a market cap of $24.74 million, a PE ratio of -1.95 and a beta of 1.64. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.34 and a quick ratio of 2.22. The company’s 50-day simple moving average is $9.21 and its 200-day simple moving average is $9.97.

BIOLASE (NASDAQ:BIOLGet Rating) last released its earnings results on Thursday, March 17th. The medical technology company reported ($0.75) EPS for the quarter, hitting the consensus estimate of ($0.75). BIOLASE had a negative net margin of 34.03% and a negative return on equity of 62.40%. The company had revenue of $12.41 million during the quarter. During the same quarter last year, the business posted ($1.75) EPS.

A number of institutional investors and hedge funds have recently made changes to their positions in BIOL. Morgan Stanley acquired a new position in BIOLASE during the first quarter worth about $34,000. Commonwealth Equity Services LLC purchased a new stake in shares of BIOLASE during the third quarter worth about $31,000. Geode Capital Management LLC grew its holdings in shares of BIOLASE by 9.5% during the third quarter. Geode Capital Management LLC now owns 1,323,471 shares of the medical technology company’s stock worth $846,000 after buying an additional 114,432 shares in the last quarter. Credit Suisse AG purchased a new stake in shares of BIOLASE during the third quarter worth about $29,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of BIOLASE during the third quarter worth about $802,000. Institutional investors own 11.38% of the company’s stock.

BIOLASE Company Profile (Get Rating)

BIOLASE, Inc, together with its subsidiaries, develops, manufactures, markets, and sells laser systems for dental practitioners and their patients in the United States and internationally. Its dental laser systems allow dentists, periodontists, endodontists, oral surgeons, and other dental specialists to perform a range of minimally invasive dental procedures, such as cosmetic, restorative, and complex surgical applications.

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